Multi-currency clearing
Send and receive bank-to-bank payments with Worldclear
Wide coverage - Access to multiple correspondent banks

Compliance

Registration

Worldclear is a registered financial service provider, FSP366526. Click here to view the register.

The financial services Worldclear is registered to provide are:

Worldclear provides banking services but is not a registered bank, nor a non-bank deposit taker within the meaning of the Reserve Bank of New Zealand Act 1989, as these registrations/licences are not applicable to international corporate and institutional banking business. The register of financial service providers provides the public with an accessible and authoritative confirmation that Worldclear meets the background and qualification requirements to provide the financial services listed. The Registrar of financial service providers is one of the regulators of financial service providers in New Zealand, and it asssses whether financial service providers are qualified for registration, registers and deregisters financial service providers, and has inspection powers in relation to financial service providers for compliance purposes. See here for more about the registrar and register.

 

AML/CFT Compliance

AML/CFT stands for Anti-Money Laundering and Countering Financing of Terrorism, and compliance with these requirements are something Worldclear and its financial service providers in New Zealand and overseas take very seriously. New Zealand law (the AML/CFT Act 2009) provides a modern and comprehensive system of AML/CFT measures, regulation, auditing and supervision, that generally meets international FATF standards. Worldclear has a comprehensive, current and effective, risk-based AML/CFT Compliance Programme, and is supervised for AML/CFT purposes by the Department of Internal Affairs.

 

Dispute Resolution

Financial Services Complaints Limited

Worldclear is a member of Financial Services Complaints Limited, member number 5359, which provides access to dispute resolution services in the event that assistance is needed to resolve a customer complaint or issue. This service is free to the customer, and provides a valuable assurance for customers that any issues will be heard and settled reasonbly and fairly. It is especially valuable for international customers of Worldclear because the customer is not required to engage a lawyer nor to travel to New Zealand, as the service primarily operates by mail, email and phone, and does not require lawyers. Financial Services Complaints Limited can hear complaints regarding, and award compensation for, issues of up to NZ$200,000. See here for more information about how the service works.